AXP PARTNERS SERIES, INC.
                                   EXHIBIT INDEX

Exhibit Index

(d)(1)    Investment  Management  Services  Agreement,  between  Registrant on
          behalf of AXP Partners Fundamental Value Fund, AXP Partners Value Fund
          and AXP Partners Small Cap Value Fund and American  Express  Financial
          Corporation.

(d)(2)    Investment  Subadvisory  Agreement between  American Express Financial
          Corporation and Davis Selected Advisors,  L.P.

(d)(3)    Investment Subadvisory  Agreement  between  American Express Financial
          Corporation and EQSF Advisers, Inc.

(d)(4)    Investment  Subadvisor   Agreement  between American Express Financial
          Corporation  and  Royce &  Associates,  Inc.

(d)(5)    Investment  Subadvisory  Agreement  between American Express Financial
          Corporation and Lord Abbett.

(e)(1)    Distribution  Agreement  between  Registrant on behalf of AXP Partners
          Fundamental Value Fund, AXP Partners Value Fund and AXP Partners Small
          Cap Value Fund and American  Express  Financial  Corporation.

(g)       Custodian  Agreement  between  Registrant  on behalf  of AXP  Partners
          Fundamental Value Fund, AXP Partners Value Fund and AXP Partners Small
          Cap  Value  Fund  and  American   Express   Trust   Company.

(h)(1)    Administrative  Services  Agreement between  Registrant  on  behalf of
          AXP Partners  Fundamental  Value Fund, AXP Partners Value Fund and AXP
          Partners  Small  Cap  Value  Fund  and  American   Express   Financial
          Corporation.

(h)(3)    Class Y Shareholder  Service  Agreement  between  Registrant on behalf
          of AXP Partners  Fundamental  Value Fund,  AXP Partners Value Fund and
          AXP  Partners  Small Cap Value  Fund and  American  Express  Financial
          Advisors Inc.

(h)(4)    Transfer Agency Agreement between Registrant on behalf of AXP Partners
          Fundamental  Value  Fund,  AXP  Partners  Value Fund and  AXP Partners
          Small Cap Value Fund and American Express Client  Service Corporation.


(i)       Opinion and Consent of Counsel.

(j)       Independent Auditors' Consent.

(k)       Financial Statements.

(m)(1)    Plan  and  Agreement of Distribution  between  Registrant on behalf of
          AXP Partners  Fundamental  Value Fund, AXP Partners Value Fund and AXP
          Partners Small Cap Value Fund and American Express Financial  Advisors
          Inc.

(m)(2)    Plan and  Agreement  of  Distribution  For  Class C  Shares  between
          Registrant  on behalf of AXP  Partners  Fundamental  Value  Fund,  AXP
          Partners Value Fund and AXP Partners Small Cap Value Fund and American
          Express Financial Advisors Inc.